Singapore Market Commentary (with evening update)

Evening Price Update

Cargoes assessment ended softer this afternoon. Fuel oil cargo fell weak by about USD6-7/MT while gasoil cargo dipped by about USD0.50/BBL. This was probably due to more weakness shown on the crude futures earlier and delivered prices were quoted much cheaper as well. Meantime, our bunker indication is revised downward once again, amid above average demand.

Morning Commentary

Crude futures for April contracts concluded bearish last night upon closing. Light Sweet Crude price shed lower by USD1.59/bbl while ICE Brent plunged lower by USD1.90/bbl.

This has dragged down the paper market in Singapore too this morning. Both fuel oil and gasoil papers were pegged softer by about USD5.00/MT and USD0.45/bbl respectively. Cargo offers are expected to sell cheaper if crude futures were to fall further. Meantime, our bunker indication is revised downward slightly for all grades.

Guangzhou Shipyard secures Suezmax order, delivers vessels ahead of schedule

China State Shipbuilding subsidiary reports nine vessel deliveries in the first quarter of 2026.

Clean ammonia project pipeline chart as of March 2026.

Renewable ammonia pipeline grows despite Norway project freeze

GENA Solutions tracks 325 projects totalling 146 MMT of capacity by 2034 despite execution challenges.

Exmar names world’s first ocean-going ammonia dual-fuel gas carriers in South Korea

Two 46,000-cbm vessels can reduce CO₂ emissions by up to 90% during navigation.

Fujian province map with highlighted locations.

Gulf Marine expands bonded lubricant supply network in China’s Fujian province

Company adds supply points in Putian, Ningde and Fuqing, covering 20 terminals across the region.

Bureau Veritas classifies Excelerate Energy’s new 170,000-cbm FSRU Excelerate Acadia

Vessel built by HD Hyundai Heavy Industries features dual-fuel engines and proprietary regasification system.

Osprey Energy seeks junior bunker trader to support Cebu trading activities from Netherlands

Dutch marine fuel supplier targets Cebu region expansion through new training programme for Filipino candidates.

KPI OceanConnect highlights falling EUA prices as opportunity for shipowners to lock in compliance costs

Marine fuel firm says timing carbon allowance purchases can reduce costs as EU emissions scope expands.

RINA partners with Hanwha Group on battery-hybrid propulsion for ro-ro ferries

Classification society to provide regulatory compliance verification for hybrid battery systems on newbuilds and retrofits.

HGK Shipping’s Amadeus Titanium fitted with wind assistance system

Coastal vessel equipped with VentoFoils at Dutch port to reduce fuel consumption on Covestro routes.

Bunker One expands physical supply operations to Tallinn and Finland

Marine fuel supplier extends Baltic Sea coverage with new operational presence in Estonia and Finland.

Singapore Market Commentary (with evening update)

Fuels & Propulsion

Recommended